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U.S. Chamber Commends House Passage of Patent Bill
WASHINGTON, D.C.— The U.S. Chamber of Commerce today applauded the U.S. House of Representatives for passing H.R. 1249, the America Invents Act, an important piece of legislation that would help ensure the U.S. Patent and Trademark Office (USPTO) has the necessary resources to revitalize America’s patent system.
“By passing this bill, the House has taken meaningful action to ensure America’s patent system continues to encourage innovation, create jobs, and bolster the U.S. economy,” said Bruce Josten, Chamber’s executive vice president for Government Affairs. “The ball is now in the Senate’s court to make sure that this Congress is remembered for taking the necessary steps to protect America’s role as a global leader in innovation.”
Intellectual property (IP) is a cornerstone of America’s economy, with IP-intensive industries employing more than 19 million workers, generating nearly $7.7 trillion in gross output, and accountable for 60% of total U.S. exports. IP protection assures inventors that their inventions will be secure as they create jobs and build industries around them. The America Invents Act will revitalize investment in new technologies, which in turn fuels economic growth and creates thousands of well‐paying jobs for American workers.
“Businesses’ ability to innovate and create quality jobs should not be hindered by stalled patent applications,” added Josten. “This bill, which makes long over-due and needed reforms, is a critical tool to ensure that the PTO is adequately staffed, efficiently operated, and fully funded to process patent and trademark applications in a high-quality and expeditious fashion.”
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.
Global Innovation Policy Center @globalIPcenter 16h
“Waiving drug companies' intellectual property rights risks setting a bad precedent for future investment in new drugs. And that risk may not be worth it without additional steps to meaningfully increase the availability of shots across the world.” https://t.co/UE6nqe8Cyb